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Subscribe to this list via RSS Blog posts tagged in Debt

Posted by in News

May 8, 2017

By J. André Weisbrod

Do you regret some major financial decisions?  Most people do.

In 2016 Bankrate.com published results of a survey that found only 17% of Americans said they had no financial regrets.  The biggest regrets were:

·         Not saving for retirement early enough

·         Not saving for emergency expenses

·         Taking on too much student loan debt

·         Taking on too much credit card debt

·         Not saving enough for children’s’ educations

·         Buying a bigger house than you could afford

I have heard many people express regrets over these actions as well as others, including spending too much on vacations, too much on cars, buying the wrong or too expensive insurance, and making bad investments.  None of us is perfect and I imagine most of us – even the 17% in denial above – would change some financial decisions if we could.

Living in the past doesn’t do much good.  But learning from it is very good.  The younger we get this the better.   But no matter our age or situation, we can take actions to improve our financial condition.  I submit seven major actions:

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Posted by in News

Do not co-sign for the debt of others. (Proverbs 6:1-5, 11:15, 17:18, 22:26)

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Tagged in: Debt Quotes
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Posted by in News

July 10, 2013

There has been quite a fuss lately about the rise in long term interest rates.  Just the hint of the Federal Reserve easing up on its actions to keep rates low sent bond markets into turmoil.  But what does it all mean and what does it mean for people who own homes or are thinking of buying homes?

Because  pictures are indeed worth many words, consider the following chart.

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Posted by in News

A reasonably good fact check by the HuffPost on President Obama's State of the Union address and Rebublican response.  Of particular interest to us and our clients will be the progress or lack thereof of practical and effective actions to reduce government deficits by reducing wasteful government spending while simultaneously creating business environment and tax structures that maximize the enabling of the private sector to do what it does best: innovate and create increasing goods and services that will grow the economy.   

http://www.huffingtonpost.com/2013/02/13/state-of-the-union-fact-check_n_2674573.html?icid=maing-grid10%7Chtmlws-sb-bb%7Cdl1%7Csec1_lnk3%26pLid%3D269764

 

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Posted by in News

Under the heading, “Know What/Who You Voted For,” President Obama and many in Congress are looking for revenue generation and a good bit of it could come out of the middle class voters he and they appealed to in the campaign.  This link outlines 5 deductions you might sorely miss.  Fair?  When is this President going to get serious about spending reductions instead of raiding our pockets even more?  My job is to help you financially, so regardless of your political persuasion, you should call/write/email the White House and Congress to get serious about their own spending instead of raiding our middle class pockets that have already been raped and pillaged enough.  (See my previous blog post, "Are You Being Cooked by Your Taxes?)  If the President and Congress want to raise revenue by closing traditional deductions, how about if we start with their own tax free expense accounts and perks?  When are our so-called leaders going to lead by example?  Oh, right.  That might require integrity.   http://www.marketwatch.com/story/5-tax-breaks-on-the-chopping-block-2013-02-05?siteid=nwhpm

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Posted by in News

"A bank is a place that will lend you money if you can prove that you don't need it." -- Bob Hope

Comment: It used to be more like that and we were better off for it.  It wasn't so true in the years leading up to the 2007 real estate crisis, which was largely triggered by too many mortgages made to too many people who couldn't realistically afford them.   Bob was being funny.  If I were to rephrase it for today (not funny, but useful), I would say, "A bank is a place that should lend you money if you can prove that you can afford it and that it will be used for a purpose that has a reasonable probability of increasing or preserving your net worth."   Boring, but better.

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